Resonac (4004) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 14.2% YoY to ¥871.9bn and core operating profit increased 136.2% to ¥164.1bn, led by Semiconductor and Electronic Materials.

• Advanced-semiconductor and AI-related demand drove quarterly records in Semiconductor and Electronic Materials revenue and core operating profit.

• FY2026 core operating profit forecast rose to ¥250bn; graphite-electrode strategic-option losses weigh on the net income outlook.

• Crasus Chemical’s partial spin-off and the potential graphite-electrode action advanced portfolio reform.

Financial highlights

• 9M revenue increased ¥108.4bn YoY to ¥871.9bn; core operating profit rose ¥94.6bn to ¥164.1bn.

• 9M IFRS operating profit was ¥148.4bn versus ¥18.4bn; profit before tax was ¥144.5bn versus ¥16.4bn.

• Profit attributable to owners was ¥94.6bn, including an ¥8.8bn discontinued-operations loss; EBITDA was ¥229.0bn and margin 26.3%.

• Q3 revenue was ¥325.1bn and core operating profit ¥79.2bn, up from Q2’s ¥290.6bn and ¥50.8bn.

Outlook and guidance

• FY2026 revenue forecast is ¥1,235bn and core operating profit ¥250bn, raised ¥70bn and ¥54bn, respectively, from the Aug. 6 forecast.

• FY EBITDA forecast is ¥338.4bn with a 27.4% margin; adjusted EPS is ¥1,131 and basic EPS is ¥403.86.

• FY operating profit forecast is ¥115bn, profit before tax ¥111bn, profit ¥76.2bn and parent-attributable profit ¥75bn; operating and parent-attributable forecasts fell ¥45bn and ¥37.5bn versus Aug. 6.

• Forecast non-recurring items are ¥135bn, including ¥99bn of graphite-electrode strategic-option losses and a ¥11.6bn Crasus Chemical spin-off loss.

• Cash dividend forecast remains ¥65 per share; FY2026 ROIC forecast is 15.0%, up from 9.8%.